Nov182013

The U.S. Treasury posted a $91.6 billion deficit for October. The U.S. trade deficit expanded more than expected by $3.0 billion (7.7%) in September to $41.8 billion. Nonfarm business productivity increased a less than expected 1.9% in the third quarter of 2013. Industrial production fell 0.1% in October. Initial jobless claims fell 2,000 to 339,000 for the week ended 11/9.

• The U.S. Treasury posted a $91.6 billion deficit for October. This is 24% less than the $120.0 billion deficit October of last year, but approximately $8 billion of the improvement is due to calendar timing.

• The U.S. trade deficit expanded more than expected by $3.0 billion (7.7%) in September to $41.8 billion. Exports fell 0.2% after no change in August while imports increased 1.2% after no change in August as well.

• Nonfarm business productivity increased a less than expected 1.9% in the third quarter of 2013. Unit labor costs fell 0.6%.